Question 1

Do I need two years of 1099 income to qualify in La Palma?

Accepted Answer

Most lenders want two years. Some will approve with one year if your income is strong and consistent.

Question 2

Can I use both W-2 and 1099 income on this loan?

Accepted Answer

Yes. Mixed income is allowed. Lenders will review both and may blend the documentation requirements.

Question 3

Will my tax write-offs hurt my 1099 loan approval?

Accepted Answer

No. Lenders use your gross 1099 income, not your taxable income after deductions. That's the key benefit of this loan type.

Question 4

How is a 1099 loan different from a Bank Statement loan?

Accepted Answer

A 1099 loan qualifies you using your 1099 forms. A Bank Statement loan uses monthly deposit history instead.

Question 5

What credit score do I need for a 1099 loan in Orange County?

Accepted Answer

Most lenders require at least 620. Higher scores get better rates — rates vary by borrower profile and market conditions.

Question 6

How much do I need to put down on a 1099 loan?

Accepted Answer

Down payments typically start at 10-20%. Your credit profile and loan amount affect the exact requirement.

1099 Loans in La Palma, CA — Built for Independent Earners